This is technical daily and provided by specialists and analysts from FXCBS

Tuesday January 5 , 2010

Previous session overview

The euro dollar pair is consolidating between 1.44840 and 1.44050 recording a high of 1.44841 and a low of 1.44050.

Regarding the pound dollar pair, it fell slightly to record a low of 1.60661 and a high of 1.61530, currently the pair is trading around 1.60780.

Finally, the dollar continued to drop against the Japanese yen recording a low of 91.620 and a high of 92.510, and the pair is currently trading around 91.800

Market Expectations

EUR/USD :
The pair Euro against U.S dollar rise during the yesterday's session, today the pair start trading around the resistance point at 1.4462, Stochastic appears saturated in the procurement process which may lead the pair to recoil from that point in a corrective movement to the level 1.43750.

GBP/USD :
Sterling against the U.S. dollar Collide yesterday with the resistance point at 1.62400 , which lead the pair to comes back down to the support point at 1.60650 , Stochastic shows mixed signals on the pair which may lead to the pair to fluctuate in a range trend before making a definite trend for the day.

USD/JPY :
currently expectations are aimed at levels of 90.91 and requires constant trading below 92.55, stochastic show saturation in sales process , which may lead to the pair to do a corrective move before continuing its falling , Monitoring the closure of this day for the level of 90.91 is important for determining the fate of the new short-term trend.